Question: The following are the data for a particular bit run: rig cost $ 1 5 0 0 h r . , bit cost $ 3

The following are the data for a particular bit run: rig cost $1500hr., bit cost $3000, depth
in 6000 ft , depth out 7500 ft , trip rate 1500fthr. and drilling rate 25fthr. if it was
expected that the bit drills 20fthr., what is the savings realized by using this bit?
The following are the data for a particular bit

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